- Philip Morris International Inc (NYSE:PM) reported fourth-quarter FY22 sales growth of 0.6% year-on-year to $8.15 billion, beating the consensus of $7.58 billion.
- Excluding Russia and Ukraine, net revenues increased by 7.9% on an organic basis, and total shipment volume increased by 2.6%.
- Cigarette and Heated Tobacco unit shipment volume in Q4 rose by 1.2% Y/Y, with 11.3% growth in East Asia and Australia.
- Marlboro cigarette shipment volume decreased by 3.1%. Chesterfield shipment volume jumped 7.7%, and Parliament saw an 8.2% hike.
- Revenue from smoke-free products accounted for 36.0% of total net revenues, or 35.6% excluding Russia and Ukraine.
- Adjusted operating margin for the quarter compressed from 37.4% to 36.5%, with $2.9 billion in adjusted operating income.
- Adjusted EPS of $1.39 beat the consensus of $1.24.
- The company held $3.2 billion in cash and equivalents as of Dec. 31, 2022.
- Outlook: Philip Morris expects FY23 adjusted EPS of $6.25 – $6.37 and adjusted EPS, ex-currency, of $6.40 – $6.52.
- Price Action: PM shares are trading higher by 0.36% at $101.65 on the last check Thursday.
Tempur Sealy Board Extends CEO Scott Thompson’s Employment Contract to December 31, 2026
Tempur Sealy International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") today announced that the Board of Directors has extended the term of Scott Thompson's employment contract as Chairman, Chief Executive Officer and President of the Company to December 31, 2026. Mr. Thompson has been Chairman, Chief Executive Officer and President since September 2015.
